A man holds a brick of unrefined gold from a mine in Ghana. Photo © Olivier Blaise
A man examines a leaking oil pipe line at a pumping station built next to his village on land that was once used for agriculture in South Sudan. Photo © Sven Torfinn / Panos
After one year of unlawful delay, Publish What You Pay U.S. calls on Securities and Exchange Commission (SEC) Chairman Mary Schapiro to schedule the vote on final rules for oil and mining payment transparency.
The rules will implement Section 1504 of the Dodd-Frank Act, also known as the “Cardin-Lugar provision,” which requires oil, gas and mining companies listed on U.S. stock exchanges to publish taxes, royalties and other payments made to U.S. and foreign governments.
Led by Barney Frank, fourteen House of Representative leaders sent a powerful message to the SEC on Section 1504. They called for no exemptions or loopholes in reporting, and endorsed the U.S. Department of Interior's recommendation that project be defined as a lease -- the norm here in the United States.
A brilliant and straight forward overview of the stakes and status of PWYP's fight for revenue transparency. Written by Ian Gary of Oxfam America.
In oil-rich Angola, 1 in 4 dollars goes missing.
At the same time, 1 in 4 Angolan children dies before the age of 5 from preventable diseases.
Equatorial Guinea, an oil rich nation, ranks:
